A $60,000 Loan at 12% Compounded Semi-Annually Is to Be

question 91

Multiple Choice

A $60,000 loan at 12% compounded semi-annually is to be repaid by monthly payments of $1,000.
-What is the size of the final payment?

• A) $685.83
• B) $692.53
• C) $1,000.00
• D) $307.47
• E) $726.98

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Definitions:

Medical Model

A framework for understanding abnormal behaviors through biological reasons and diagnosing and treating mental health disorders in a medical context.

Psychological Disorders

Mental disorders characterized by persistent dysfunction in thoughts, feelings, and behaviors, leading to significant distress or impairment in social, occupational, or other important activities.

Sicknesses

Conditions or diseases causing impairment to normal physiological functions, affecting a person's health and well-being.

Disordered Aggression

Aggressive behavior that is abnormal, uncontrolled, and potentially harmful, often resulting from psychological disorders or brain injury.